{"id":5448,"date":"2025-01-28T17:11:17","date_gmt":"2025-01-28T15:11:17","guid":{"rendered":"https:\/\/esghub.ro\/?p=5448"},"modified":"2025-01-29T08:40:23","modified_gmt":"2025-01-29T06:40:23","slug":"update-of-the-esef-taxonomy-and-new-requirements-for-financial-reporting-in-the-european-union","status":"publish","type":"post","link":"https:\/\/esghub.ro\/en\/actualizarea-taxonomiei-esef-si-noile-cerinte-pentru-raportarea-financiara-in-uniunea-europeana\/","title":{"rendered":"ESEF taxonomy update and new requirements for financial reporting in the European Union"},"content":{"rendered":"

The European Commission published in January 2025 Delegated Regulation (EU) 2025\/19, which introduces an update of the basic ESEF (European Single Electronic Format) taxonomy. This Regulation is an important amendment to Regulation (EU) 2022\/2553 of 21 September 2022.<\/span><\/strong><\/p>\n

What is new in Delegated Regulation (EU) 2025\/19?<\/strong><\/span><\/h2>\n

The regulation brings two main changes<\/strong> which will influence the financial reporting of EU-listed companies:<\/span><\/p>\n

    \n
  • Update of the ESEF core taxonomy: The taxonomy has been revised to reflect recent changes to IFRS (International Financial Reporting Standards), thus ensuring alignment between European and international requirements. These changes are essential to facilitate comparability of financial statements between companies, especially in the context of the globalisation of financial markets<\/span><\/li>\n
  • updated list of explanatory notes: the Regulation introduces a revised list of notes to be digitally labelled in the consolidated financial statements, in line with the EU requirements on the ESEF taxonomy. This measure aims to increase the transparency of financial information and simplify the analysis of data for investors and other stakeholders.<\/span><\/li>\n<\/ul>\n

    Who is affected by the new requirements?<\/strong><\/span><\/h2>\n

    The Regulation applies to companies that present consolidated financial statements under IFRS using the ESEF taxonomy imposed by Regulation (EU) 2019\/815. These companies, usually listed on capital markets in the European Union, will have to comply with the new requirements from the financial year beginning on or after 1 January 2025.<\/span><\/p>\n

    However, an important provision is that issuers may choose to apply these changes from financial years before 1 January 2025 if they wish to adopt the new standards earlier.<\/span><\/p>\n

    Background to the taxonomy update<\/strong><\/span><\/h2>\n

    The ESEF Taxonomy was originally introduced in 2020 to standardise the digital financial reporting of EU listed companies. By regularly updating the taxonomy, the European Union aims to keep it relevant to evolving international and financial market standards. The amendments in Delegated Regulation (EU) 2025\/19 continue this initiative, emphasising clarity, comparability and accessibility. It is expected that the update of the ESEF taxonomy and the revision of the list of explanatory notes will contribute to improving the transparency and comparability of financial data, benefiting both companies and investors.<\/span><\/p>\n

    The rules can be found below.<\/strong><\/span><\/p>","protected":false},"excerpt":{"rendered":"

    Comisia European\u0103 a publicat \u00een luna ianuarie 2025 Regulamentul Delegat (UE) 2025\/19, care introduce o actualizare a taxonomiei de baz\u0103 ESEF (European Single Electronic Format). Acest regulament reprezint\u0103 un amendament important adus Regulamentului (UE) 2022\/2553 din 21 septembrie 2022. Care sunt elementele de noutate \u00een Regulamentul Delegat (UE) 2025\/19? Regulamentul aduce dou\u0103 schimb\u0103ri principale care […]<\/p>\n","protected":false},"author":4,"featured_media":5469,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"iawp_total_views":4,"footnotes":""},"categories":[12],"tags":[129,128],"class_list":["post-5448","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-legislatie-europeana","tag-regulament-delegat","tag-taxonomie"],"_links":{"self":[{"href":"https:\/\/esghub.ro\/en\/wp-json\/wp\/v2\/posts\/5448","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/esghub.ro\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/esghub.ro\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/esghub.ro\/en\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/esghub.ro\/en\/wp-json\/wp\/v2\/comments?post=5448"}],"version-history":[{"count":3,"href":"https:\/\/esghub.ro\/en\/wp-json\/wp\/v2\/posts\/5448\/revisions"}],"predecessor-version":[{"id":5472,"href":"https:\/\/esghub.ro\/en\/wp-json\/wp\/v2\/posts\/5448\/revisions\/5472"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/esghub.ro\/en\/wp-json\/wp\/v2\/media\/5469"}],"wp:attachment":[{"href":"https:\/\/esghub.ro\/en\/wp-json\/wp\/v2\/media?parent=5448"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/esghub.ro\/en\/wp-json\/wp\/v2\/categories?post=5448"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/esghub.ro\/en\/wp-json\/wp\/v2\/tags?post=5448"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}